Bradley Foster & Sargent Inc. CT Raises Holdings in TC Energy Corporation $TRP

Key Points

• Bradley Foster & Sargent Inc. CT increased its stake in TC Energy by 10.3% in the first quarter, bringing its holdings to 442,065 shares worth about $27.7 million.
• TC Energy reported Q1 earnings of $0.72 per share, beating analyst expectations of $0.70, though revenue came in below estimates at $2.04 billion.
• The company declared a quarterly dividend of $0.8775 per share, implying an annualized yield of about 5.0%, while analysts currently rate the stock Moderate Buy with an average price target of $78.50.

Bradley Foster & Sargent Inc. CT increased its holdings in TC Energy Corporation (NYSE:TRP - Free Report) TSE: TRP by 10.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 442,065 shares of the pipeline company's stock after buying an additional 41,133 shares during the period. Bradley Foster & Sargent Inc. CT's holdings in TC Energy were worth $27,673,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Lombard Odier Asset Management Switzerland SA boosted its position in TC Energy by 12.5% during the 1st quarter. Lombard Odier Asset Management Switzerland SA now owns 38,830 shares of the pipeline company's stock valued at $2,426,000 after acquiring an additional 4,300 shares in the last quarter. Compound Planning Inc. raised its position in shares of TC Energy by 4.2% in the 1st quarter. Compound Planning Inc. now owns 18,434 shares of the pipeline company's stock worth $1,154,000 after acquiring an additional 745 shares in the last quarter. Bank of Nova Scotia raised its position in shares of TC Energy by 8.3% in the 1st quarter. Bank of Nova Scotia now owns 8,380,992 shares of the pipeline company's stock worth $524,682,000 after acquiring an additional 639,127 shares in the last quarter. Dickmeyer Boyce Financial Management Inc. bought a new position in shares of TC Energy in the 1st quarter worth $631,000. Finally, State of Wyoming lifted its stake in shares of TC Energy by 119.9% during the 1st quarter. State of Wyoming now owns 1,082 shares of the pipeline company's stock worth $68,000 after purchasing an additional 590 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Stock Performance

Shares of TRP opened at $70.58 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.67. The firm has a market cap of $73.54 billion, a PE ratio of 30.63 and a beta of 0.66. TC Energy Corporation has a 12 month low of $46.61 and a 12 month high of $71.47. The stock has a fifty day moving average price of $68.61 and a 200-day moving average price of $63.93.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the business earned $0.95 EPS. Equities research analysts predict that TC Energy Corporation will post 2.72 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.8775 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.0%. TC Energy's payout ratio is presently 107.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group raised TC Energy from a "sell" rating to a "neutral" rating and raised their price objective for the company from $53.00 to $62.00 in a research report on Monday, April 20th. TD Securities reiterated a "hold" rating on shares of TC Energy in a report on Thursday, July 16th. Royal Bank Of Canada increased their price target on shares of TC Energy from $92.00 to $95.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. National Bank Financial upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of TC Energy in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $78.50.

About TC Energy

TC Energy NYSE: TRP is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company's principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.

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